Abra Mining and Industrial Corporation

August 26, 1998 PSE CIRCULAR FOR BROKERS NO. 1980-98 SUBJECT : Abra Mining and Industrial Corporation Abra Mining and Industrial Corporation ("AR") furnished the Exchange a copy of its letter to the Securities and Exchange Commission (SEC) dated August 21, 1998 informing a change of the date of its 1998 Annual Stockholders' Meeting from the Second Monday of August at 10:00 a.m. to October 28, 1998 at 4 : 00 p . m ., to be held at the Principal Office of Abra Mining and Industrial Corporation located at Lipcann, Bangued, Abra. "AR" in its letter to the SEC stated that: "This is to inform your office that Abra Mining and Industrial Corporation was constrained to postpone the holding of its 1998 Annual General Stockholders' Meeting supposed to be held at 10:00 o'clock of the Second Monday of the month of August, pursuant to Section, Rule III of its Amended By-Laws. Numerous requests from stockholders were received at the Office of the Abra Mining and Industrial Corporation as early as the month of June, 1998. The stockholders manifested their intention and desire to attend the Annual Meeting but likewise expressed their apprehensions that they could not attend because of the impending "La Nia" which is expected to affect the country during the rainy months. . . With the numerous requests made by the stockholders, it would not be appropriate to insist in holding the Annual Meeting as scheduled for lack of certainty to attain a quorum . . . The lack of quorum will only put to waste the corporate expenses for the preparation and holding of the Annual Meeting . . . The change of the date of the 1998 Annual Stockholders' Meeting to October 28, 1998 is intended merely to afford the stockholders opportunity to attend the same . . ." For your information. prLL (SGD.) REYNOLD P. ONG Vice-President, Listings and Disclosure Group